Multiple Choice
A balance column ledger account is
A) An account entered on the balance sheet.
B) Another name for the withdrawals account.
C) An account used to record the transfers of assets from a business to its owner.
D) A simple form of account that is widely used in accounting education to illustrate the debits and credits required in recording a transaction.
E) An account with debit and credit columns for recording entries and a third column for showing the balance of the account after each entry is posted.
Correct Answer:
Verified
Correct Answer:
Verified
Q39: If an error is discovered in either
Q41: The accounting equation is expressed as assets
Q57: Step Two of the accounting cycle requires
Q66: The account sometimes referred to as the
Q67: Which of the following statements is incorrect?<br>A)The
Q68: A liability created by the receipt of
Q71: On May 31, Don Company had an
Q73: Jay Smith's Word Processing began business and
Q74: A ledger is<br>A)A book in which a
Q96: A general journal entry usually includes information